OCM GOLD FUND

Schedule of Investments - February 28, 2023

(Unaudited)

Shares				Value
		Common Stocks	97.7%
		Major Gold Producers	33.3%
	80,000	Agnico Eagle Mines Ltd.		$	3,682,400
	155,000	AngloGold Ashanti Ltd. ADR			2,582,300
	100,000	B2Gold Corp.			339,000
	300,000	B2Gold Corp.^			1,024,551
	200,000	Barrick Gold Corp.			3,224,000
	140,000	Endeavour Mining PLC			2,913,888
	65,000	Newmont Corp.			2,834,650
					16,600,789
		Intermediate/Mid-Tier Gold Producers	24.8%
	300,000	Alamos Gold, Inc.			3,054,000
	250,000	Dundee Precious Metals, Inc.			1,604,984
	225,000	Fortuna Silver Mines, Inc.*			730,487
	130,000	Lundin Gold, Inc.			1,343,349
	700,000	OceanaGold Corp.*			1,426,164
	75,000	Pan American Silver Corp.			1,114,500
	800,000	Perseus Mining Ltd.			1,057,802
	150,000	SSR Mining, Inc.			2,047,500
					12,378,786
		Junior Gold Producers	19.5%
	400,489	Calibre Mining Corp.*			334,597
	1,250,000	Emerald Resources N.L.*			1,110,289
	150,000	i-80 Gold Corp.*			341,884
	1,449,950	Jaguar Mining, Inc.			2,752,195
	175,000	K92 Mining, Inc.*			954,196
	1,000,000	Minera Alamos, Inc.*			278,490
	450,000	Mineros S.A.			181,385
	500,000	Orezone Gold Corp.*			465,372
	4,100,000	Superior Gold, Inc.*			826,310
	1,595,000	Thor Explorations Ltd.*			327,299
	450,000	Wesdome Gold Mines Ltd.*			2,146,940
					9,718,957
		Exploration and Development Companies	4.5%
	180,500	Benchmark Metals, Inc.*			48,283
	250,000	G Mining Ventures Corp.*			164,895
	1,000,000	Liberty Gold Corp.*			388,421
	616,500	Montage Gold Corp.*			293,679
	5,000,000	Omai Gold Mines Corp.			230,854
	257,945	Paramount Gold Nevada Corp.*			77,383
	975,000	Rio2 Ltd.*			121,473

Shares				Value
	3,000,000	Royal Road Minerals Ltd.*		$	269,329
	4,578,755	RTG Mining, Inc.*			140,188
	2,512,040	Sutter Gold Mining, Inc.* #			—
	1,210,500	Tajiri Resources Corp.*			31,050
	530,000	West Vault Mining, Inc.*			369,000
	450,000	Westhaven Gold Corp.*			113,778
					2,248,333
		Royalty/Streaming Companies	8.1%
	97,500	Wheaton Precious Metals Corp.			4,062,202
		Primary Silver Producers	7.5%
	625,000	Andean Precious Metals Corp.*			384,756
	570,000	Aya Gold & Silver, Inc.*			3,341,884
					3,726,640
		Total Common Stocks
		(Cost $29,575,982)			48,735,707
		Warrants	2.4%
		Exploration and Development Companies	0.0%
	641,000	Euro Sun Mining, Inc. Exercise Price 0.55 CAD, Exp. 6/5/2023*			—
	225,000	Westhaven Gold Corp. Exercise Price 1.00 CAD, Exp. 3/3/2023*			—
	400,000	Apollo Silver Corp. Exercise Price 1.25 CAD, Exp. 6/25/2023*			—
					—
		Primary Silver Producers	2.4%
	350,000	Aya Gold & Silver, Inc. Exercise Price 3.30 CAD, Exp. 9/3/2023*			1,205,570
					1,205,570
		Total Warrants
		(Cost $0)			1,205,570
		Total Investments	100.1%
		(Cost $29,575,982)			49,941,277
		Liabilities less Other Assets	(0.1)%		(32,431	)
		TOTAL NET ASSETS	100.0%	$	49,908,846

ADR – American Depository Receipt

PLC – Public Limited Company

CAD – Canadian Dollars

^	Denoted investment is a Canadian security traded on U.S. stock exchange.
*	Non-income producing security.
#	Level 3 security fair valued under procedures established by the Board of Trustees, represents 0.00% of Net Assets. The total value of this security is $0.